🇧🇷 Brazil’s 6th largest bank launches stablecoin, Ondo Finance introduce ‘Ondo Chain’ & ECB plans to settle digital assets using central bank money

Sunday is here.

Welcome back to another newsletter from us at The Merge.

Tokenisation News

🇧🇷 Brazil’s 6th largest bank launches stablecoin

🌐 Ondo Finance introduce an RWA Network ‘Ondo Chain’

🇪🇺 ECB plans to settle digital assets using central bank money

Read Time: 5 Minutes

Global Market Overview

Real World Assets on-chain (excl stablecoins) are worth $17.64 billion (↑4.44% from last month).

There are 86,459 Total Asset Holders (↑3.09% from last month).

• $222.1b is in Stablecoins

• $11.9b is in Private Credit

• $3.9b is in US Treasury Debt

• $1.21b is in Commodities

• $123.3m is in Global Bonds

• $15.1m is in Stocks

The top 3 networks are 🥇Ethereum ($134b in Total Value Locked) 🥈Tron ($62.5b in TVL) & 🥉Solana ($10.7b in TVL).

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So, what’s being tokenised this week?

Private Credit

Currently, there are $11.9 billion in active-value loans and $21.7 billion in total loan value across all protocols.

As of today, the top 3 current protocols with outstanding loans are 🥇Figure ($9.3b)🥈Tradable ($1.7b) &🥉Maple ($279m).

Stablecoins

Currently, the market cap of stablecoins is $222.1 billion (↑4.67% from last month).

As of today, it makes up 1.06% of all M2 Money Supply (↑4.67% from last month) with Monthly Transfer Volume totalling $2.14 trillion (↓58.17% from last month)

The top 3 current entities are 🥇Tether ($141.8b)🥈Circle ($55.8b) &🥉Sky ($7.2b).

Top stories this week?

🇧🇷 Brazil’s 6th largest bank launches stablecoin

Braza Group, which processes $30 billion in FX transactions and ranks as Brazil's 6th largest interbank market participant, is launching $BBRL on the XRP Ledger.

The strategic timing is notable - they're starting with institutional clients before a planned retail rollout next quarter through their Braza On app.

Given their existing FX expertise and relationship with Ripple (whose RLUSD stablecoin recently launched), Braza could become a powerful force in bridging traditional currency markets with digital assets.

🌐 Ondo Finance introduce an RWA Network ‘Ondo Chain’

Ondo Chain is building a Layer 1 blockchain that bridges traditional finance with DeFi in a way that actually works for institutions.

By allowing real-world assets for gas fees, preventing front-running through permissioned validators, and securing the network with stable assets instead of volatile crypto, they're solving the key problems that have kept institutions away from blockchain.

Check out our breakdown on why this is a huge step for tokenisation and Ondo:

🇪🇺 ECB plans to settle digital assets using central bank money

The European Central Bank is embracing blockchain technology with a carefully planned two-step approach to digital asset settlement.

Rather than waiting for a perfect solution, they're launching an interim platform within months, likely based on the successful German Trigger system trials.

This will let banks and financial institutions immediately start handling tokenised securities with the safety of central bank money.

The long-term vision is even more ambitious - a permanent platform that fully integrates with Europe's TARGET Services payment system and handles international transactions.

Commodities

Currently, the market cap of commodities is $1.2b (↑8.43% from last month).

As of today, the Monthly Transfer Volume totals $557.9m (↑29.87% from last month) with 61.2k addresses that are current holders.

The top 3 current entities are 🥇Paxos ($613m)🥈Tether ($573m) & 🥉Comtech Gold ($13m).

Bonds

Currently, the total value of bonds is $123.2m (↓0.35% from last week)

As of today, the Average Yield to Maturity is 0%. There are 666 Holders (↓0.6% from last week) and 7 Total Assets.

The top 3 current entities are 🥇Spiko ($96.6m)🥈 Backed Finance ($20.3m)🥉 OpenTrade ($6.2m).

Stocks

Currently, the total value of stocks is $15.1m (↓9.3% from last month)

As of today, the Monthly Transfer Volume totals $13.9m (↓79.9% from last month) with 231 Active Addresses and 1,150 Current Holders.

The top 3 current entities are 🥇iShares Core S&P 500 ($7.5m)🥈Coinbase Global ($4.9m) &🥉Nvidia ($1.4m).

Weekly Resource List

👻 Phantom Wallet: Beginner-Friendly Wallet

Multiple chains, one wallet. No need for switching. Seamlessly access the largest NFT marketplaces. A multi-chain wallet that helps you explore web3, use apps, and buy, store, and trade crypto and NFTs across Solana, Ethereum, and Polygon. (link) 

💳 Coinbase Wallet: The Crypto Wallet of Choice

You’ve more than likely heard and probably used Coinbase, so no introduction is needed. This is by far one of the easiest and non-crypto native wallets to be picked up and used by anyone. They even have a ‘Simple Mode’ for beginners. (link) 

🌐 RWA.xyz: On-Chain RWA Analytics

Explore tokenised real-world assets and the investors, issuers and service providers participating in public blockchains. View protocol statistics, industry aggregate metrics, and the issuers all in one place (link)

🔎 Santiment: Crypto Intelligence Tool

A behaviour analytics platform for crypto, sourcing on-chain, social and development information on thousands of coins, including market signals. For RWA’s insights check out this (link) 

As always, thanks for reading.

Vote below and let us know your thoughts this week —we’d love to hear from you.

See you next Sunday,

Merge